There has been a rise in fraud involving UPI- grounded digital transfers. From April of last time to February of this time, the current financial time, there has been a rise in similar reports of13.20. In discrepancy, there was only a 9 rise in these cases during the former financial time. In the financial time 2022 – 2023,,402 cases of UPI fraud were recorded up until February, the government in Parliament claims. There were,274 similar cases recorded during the former financial time. In discrepancy,,299 of these grievances were made during the 2020 – 21 financial time. public Payments Corporation of India( NPCI) stated that the UPI terrain has erected- in security features, Minister of State for Finance Bhagwat Karad stated in the Rajya Sabha.
Rate of Fraud to Deals According to Retail Karad, there are a lot of swindles, but their proportion to overall purchases is low. As of now in the current financial time, the fraud- to- deals rate is0.0015, down from0.0016 in the antedating financial time and0.0017 in 2020 – 21. By not telling their account information, Leg, or OTP, druggies can help fraud.